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Search Results 0 to 49 of about 57 (some duplicates have been removed)
CNBC
Jun 19, 2013 2:00pm EDT
. the fed saying the downside risks for the labor market and the economy have diminished, perhaps setting the stage for tapering. there were two dissent, one from the hawkish side and one from the dovish side, one from george and one from bullard. let's get to the details now. the economy seemed just like it was last time, expanding at a moderate pace, a slight tweak to the gdp forecast. back to that later. the labor market upgraded just a touch, seen as further improving rather than some improvement and same concern about the unemployment rate, the unemployment rate remaining elevated. you'll see in the forecast a little more aggressive decline in the unemployment rate anticipated by the federal reserve, spending, household and businesses seen advancing and howing strengthened further as they said last time. inflation somewhat below the long-term objective and that inflation forecast came down by a strong half point in 2013, seemed to be accelerating next year. downside risk, seen to the outlook and to the economy and labor market as having diminished. that's a big change to the statemen
FOX News
Jun 20, 2013 1:00pm PDT
of an ingracious way to do it because ben bernanke got him elected by pumping all the money into the economy, and being the only thing promoting economic growth because his fiscal policies he even admits fail. that's pretty bad. i was shocked at bernanke's statements yesterday. they were clear and concise and said in clear terms that we're going to end this, when we get any sort of indication it's probably going to be over. we may even end et al. together next year if the economy starts to improve. he knows the markets are so volatile, on tender hooks about ending quantitative easing, and you have to thicket was payback. >> neil: normally, they stay before you fire a person, make sure you have their security pass. and check they don't have weapons. but in this case, the powerful weapon. i'm not saying -- there could be the temptation to say i'm going do it sooner than the market thinks. >> i don't think what the president said was an accident. i don't think he says anything accidentally. and you can read a lot into that. and there has been a ton of chatter since that interview, talking abou
CNBC
Jun 20, 2013 1:00pm EDT
of the monetary stimulus out of the equation if the economy is getting better. and he says, the economy is showing signs of getting better and we think by year end and into 2014, it's going to be better still. so we anticipate being able to take away some of the scaffolding around this building and let it see whether it can stand on its own two feet. why is that bad news? why are commodities, stocks and bonds selling off on what, really, you could interpret as good news? >> i think it really isn't bad news, and i do think that much of what chairman bernanke said yesterday was in line with market expectations, but it clearly wasn't in line with investor positioning. so people are selling because they had a different expectation of where the fed was going to be. we now have a situation where there is some concern coming out of the markets, are the feds going to move too soon? i think that's unlikely. inflation continues to fall, so we're in a disinflationary environment. i think the feds' investments on employment are probably accurate, so i think as we look at the second half of the year, positions
CNBC
Jun 21, 2013 7:00pm EDT
point. the economy is soft, inflation virtually non-existent and i'm just going to add why risk deflation when we barely have a recovery at all? one major consequence of the bernanke policy of ending bond purchases is the big jump in interest rates and that, in turn, changes stock market valuations and that is one big reason for the large correction in stocks this week. no one can foretell the future. least of all, me. but let me just ask a couple of questions here. have treasury rates completely discounted an end to qe, okay? i don't think they have. here's my fear. i'm just going to say this. if you play this out, the ten-year treasury ought to be the same as the growth of total spending or nominal gdp in the economy and that's 3.5%, maybe 4%. we're at 2.5% on the treasury. in other words, in the last year we'll be looking at rates going to 4% in treasurys and i don't think that's in the market yet. now, also, will both stocks and bonds play cat and mouse with the fed? every day, every week, every month for the next couple of months. that's going to be a tough one. since i don
CNBC
Jun 19, 2013 4:00pm EDT
the downside risks to the economies have diminished. that's certainly good news. the economy is improving. then they went on to say, mr. bernanke reiterated, the fed may taper bond purchases at the end of the year and finish by mid-2014. that was a little more flesh on the bones of their plan there. that was the important part of that. stocks and bonds dropped on that. the dow jones industrials average. we have ended at the lows of the day, down about 200 points in the dow. that started dropping -- even though we were down before 2:00, the slide accelerated as mr. bernanke began speaking at 2:30 on the press conference. bonds took it on the chin. take a look at the agg. this is the bond etf, the largest one that's out there. that's an aggregate of the total bond market. this is now essentially sitting at a two-year low. let's move on. low inflation, not great necessarily. for gold. gold took it on the chin as well. take a look at gold. gold is also closing right near two-year lows. these are intraday charts. but gold is near a two-year low right now. other commodities dropped as well toda
CNBC
Jun 21, 2013 4:00pm EDT
suggest that the economy's doing better. if we continue to escalate a lot higher, like we have been -- i mean, we're up 87 bips on the 10-year in a month and a halftime. if we continue with that pace, that's what will cause the volatility, i think you want to use the volatility to pick out long-term themes -- in housing, aerospace, the industrials, and even start to look at the defensive stocks as they come down. >> rebecca, part of the issue for the markets has been currencies, has been credit, obviously. i mean, the dollar soaring against all currencies, right? euro, brazil, across the board. >> i think the dollar is likely to stay strong. the u.s. interest rate trend, i think, is going to be with us for a while. maybe not 30 years like falling interest rates were. but it could be for a couple of years. and so, if we're in that environment where you have rising interest rates, a stronger dollar, weaker commodity prices, when you think about the u.s. stocks you want to own, you want to think about names that are going to do well in a strong dollar, weak commodity environment. there are
CNBC
Jun 18, 2013 7:00pm EDT
today, and roughly 2% under performing economy, there's just no reason for interest rates to jump higher. the u.s., by the way, is really the only global stock market game in town. our companies are profitable. so at these levels it may not be roaring bullish. i don't think the fed is going to taper down tomorrow, and i do believe the bull market is far from over. that's my take. let's welcome kenneth heed ner. and i'm joined by george gilder. he has the book "knowledge is power." ken, what say you? >> i say that we have a number of years of growth ahead of us in the economy. it's growing at 2%. it's going to accelerate as consumer confidence rises with rising housing prices. we'll see 3, 4, 5% growth rate. >> 3, 4, 5%, those are big numbers. you had an okay housing number today but housing starts are up 29% on year. here's my inflation point. the year-to-year cpi, 1.4%. guys like me two years ago worry about inflation, money printing, i was wrong. i said that before. the best set indicator, 1.0%. without inflation, why should inflation rates have to go higher? >> they go a little bit hi
CNBC
Jun 20, 2013 7:00pm EDT
base metals, indication of a slower global economy. commodity stocks, of course, they get hit when the dollar rises, 3%, 4% declines. they've been down 15% in the last six weeks here. let's move on here. there was no place to hide. it didn't matter. consumer staple stocks down 3%. utilities were down 3%. consumer discretionary defense care is not defensive. there wasn't any place to hide. i just want to note, larry, the s&p 500 down 5% from its historic high just about a month ago, but it's still up almost 12% on the year. bear that in mind, i want to know we're already getting deals cancelled and we had one secondary canceled tonight and brookfield renewable energy and they own wind mills and natural gas-fired power plants and they canceled late tonight due to what they call market conditions and the slide to the downside. larry, right now the futures are pretty much unchanged and we'll have it open tomorrow with a lot of trading and it will be the options exploration. after that, a lot of people here are hoping for a relatively smooth day, but nobody knows for sure. back to you.
CNBC
Jun 20, 2013 3:00pm EDT
-changer? the economy getting better? >> think investors don't believe what bernanke is telling us. that the economy is stronger. and that it is a lack of confidence in the economy's ability a to stand on its two feet without all of this liquidity. >> and do you think this is old-fashioned profit taking? we've had good gains for 2013. we've had good gains for last four years. is it time to take something off the table for that reason. >> think i so. and a couple dayes with twloost days of run up with the announcement yesterday was short-covering. so i think you have people on the shore wagon as well. i think it is a combination of profits and the move down today. >> have you a triple witch tomorrow right? expiration coming tomorrow. how does that impact things? >> i think that exaggerates the moods. usually you see a lot of activity and volume and movement. and what we have seen the last few days is a heavy down days. i think the on coming combination exaggerate the move and puts pressure in that direction of the movement in this case down and exaggerate this move. not quite a bit but, significantly
MSNBC
Jun 21, 2013 9:00am PDT
poverty for the lowest income people. and actually, served as a good stimulus for the economy at the same time. >> i mean, and the meme around food stamps has been incredibly divisive. and really false. and i must play the sound from louie gohmert who is really a one-man band in terms of sound bites and outrageous commentary. let us hear what louie gohmert had to say on the floor of the house yesterday. >> standing in line at a grocery store behind people with a food stamp card, and they look in their basket, as one individual said, "i love crab legs," you know the big king crab legs. i love those and then sees the food stamp card pulled out and provided. he is actually helping pay for the king crab legs. when he can't pay for them for himself. >> so everyone on food stamps is apparently buying king crab legs, eugene. >> yeah. >> they're living off the largess of our government. >> king crabs are going to have to be added to the endangered species list, i guess, according to louie gohmert. you know, it's wrong, number one. it's -- it's insulting. it's demeaning. and it's probably the way
CNBC
Jun 19, 2013 1:00pm EDT
consequential meeting for markets and the federal reserve in terms of guiding markets and guiding the economy on policy here. i want to give you some tips that i think is a way to listen to bernanke today. i think you want to watch the forecast, the 2.6% gdp growth, the average for 2013 and the 7.4% unemployment rate. those could both come down here. unemployment could actually go either way, but i think it might come down here. watch the tapering guidance of the the market bet is that there is not a taper at this meeting, but bernanke could lay the groundwork for september or sooner. rates versus qe. listen to the chairman try to talk. we expect this, that he'll start to say, you know what, bernanke could strive to convince the markets that tapering does not mean a rate hike, and finally i would expect the third degree on the third term. expect many questions on whether bernanke wants to stay or if, you know, he's been fired. one thing i want to show you is the ten-year. we'll be asking the fed chairman about traits and whether the rise in rates is something that the fed wants to have happen
CNBC
Jun 19, 2013 9:00am EDT
mean for commerce and economy. >>> and now a backing off of a bid for sprint by dish, and they will concentrate on clearwire. >>> and also, a look at icahn stepping up dell bid. >>> and now the fed is wrapping up the two-day policy meeting this afternoon. investors hoping that fed will provide clarity about how and when the fed will wind down the bond buying program. make sure to watch the statement, and ben bernanke's news conference which is i perhaps more important, and it starts at 2:00 p.m., and one way or another, it is going to be nice to get something out of the way, wouldn't it? >> yes, i used to regard these events as big bad events when i worked at the hedge fund, because there could be relief even if he says the wrong thing and i'd love for him to address the 10-year, because it signals that the e kconomy is better, b it is not just weak. but if you address the 10-year, i'm in control and the bond vigilantes are not. i believe when this is over, we will come back and discuss -- i'm not kidding -- stocks. >> although, is it possible that the language that h
CNBC
Jun 21, 2013 1:00pm EDT
't think the economy is that strong yet. that would be another conversation on the line, but i think the interest rate -- the jump in interest rates is more once again of a knee jerk reaction. >> do you agree with that, because it does feel as though we're kind of at an infliction point in terms of rates, and this has been a really big backup this week in rates even though we're still at historically low levels. >> as much as i love kenny, i disagree with the big guy. an overreaction, no. we aren't seeing an overreaction. big ben. came out with the bernanke belly flop when he inadvertently suggested that they can move the stimulus or even taper on unemployment target. went from 6.9% up to 7%. that was huge, and that's when the ripple effects and the tsunami came into the treasury pits behind me. they began selling it, and right now, sue, severe technical damage, so the treasury market, obviously 7 and above, 2.40 in the ten-year note is very difficult. equity bounced off this 100-day moving average of 15.75 which coincides with the multi-year high. a lot of people were caught offside
CNBC
Jun 20, 2013 9:00am EDT
is not only allowing inflation, but the fact that it won't come down. and now the u.s. economy has to take into account that and the move of rates and the 1.5% move in rates is a hard pill to follow. >> and scott n the last three or maybe four, the feds have come in, and they have said, i am short the 10-year and take a boatload and every year they are wrong, and perhaps now, but to this point, we are waiting for an appreciable move in rates for year and years and the fact that the economy may not stand on its own legs is curious to me. i am curious what you are hearing out there, as well, scott, in terms of the pain people are taking on the fixed income side, and those who are not short credit and obviously watching the equities sell off. >> the market, whether it is treasuries or equities, the market was probably hoping and probably against the better judgment probably that bernanke yesterday was going to sort of walk it back, and walk back the notion that they were going to mention taper org that -- tapering or going to do it any time soon and we know that the people you are talking abo
FOX Business
Jun 20, 2013 11:00am EDT
. bernanke said the fed could slow its bond line program later this year, as long as the economy keeps growing and unemployment falls. in a note to clients, renaissance marker research said we suspect the markets are significantly overreact into the process of tapering. rbc capital markets said one of the big surprises in bernanke's press conference was that the chairman did not attempt to walk back the recent rise in interest rates. bernanke said yesterday that tapering really was not that bad. kind of like taking your foot off the gas pedal in the car and hitting a nice cruising speed, not hitting the brakes. >> what he is doing is a lot like monetary drunk driving. >> we will get more clarity at the end of july. connell: thank you much. brian jacobson for us next. it is always good to have brian's point of view. to what level is your anxiety level at this stage? >> my anxiety level is very low. i understand that they have a centrally planned economy. they can marshal resources to prop up their banks if necessary. i am not concerned about the federal reserve cutting back on their ass
CNBC
Jun 20, 2013 4:00pm EDT
tapering i think will be symbolic. we have inflation high and i don't think to the economy is quite making it out what the fed is meant to be. i think we will see a bounce back here. >> would you say you want to buy here or wait and see if things settle out in more after wash-out? >> i would start to get money involved here. even during the run-up waiting for an opportunity to get into the market. here is an opportunity. you don't have to put everything in but it is time to move some money back into the market, cheaper valuations here. >> michael pento, how do you see it? >> first of all, mr. bernanke is a very confused man. he launched qe4 in january. january of this year. not only six months later, not even six months later, he lowers his growth forecast, takes down dramatically, his inflation outlook, and then for the first time ever, outlines a time line where he's going to get out of his quantitative easing strategy. so he surprised a lot of people on wall street and i got news for mr. bernanke. he does not control long-term interest rates and he has this economy 100% addicted to his
CNBC
Jun 17, 2013 6:00am EDT
morning to you. leaders of the world's most powerful economies are gathering in northern ireland for a two-day summit. british prime minister david cameron is the host, and he's pushing for countries to share more financial information. leaders there also expected to discuss differences on some of the big issues. syria's civil war, free trade between europe and north america and of course global tax evasion. we'll have a live report from steve sedgwick on the ground in the next hour. >>> unions in turkey, they're on a owuone-day strike over the eviction of protesters from a park in istanbul. police and protesters clashed from sporadically overnight following a weekend of scuffles in the city. nbc's richard engel will join us with the latest in the next hour. >>> also in corporate news this morning, a large activist investor in smithfield foods is pressuring the company to explore a break-up rather than go ahead with that planned $4.7 billion takeover by a chinese meat producer. i don't know if this is going to make joe happy or not, but "the wall street journal" reporting that starboard va
CNBC
Jun 19, 2013 6:00pm EDT
about how the economy is still a bit dicey and jobs aren't being created fast enough. now they're thinking he just wants to put everybody to work, he's not worried about the bonds. bondholders are saying to heck with this, you're not going to protect us, economy is way too strong for bernanke to keep buying bonds, he can't keep rates down, he shouldn't even try. the owners of bonds aren't as worried about the ongoing drag of the federal government that berng kooes fretting about and talked about today. they aren't worried about higher taxes, sequester spending cuts or any lack of any serious attempt by elected officials to get hiring going. they are selling their bonds right now before things get so much better that those bonds will be worth even less! to understand how bonds work i've got to do something different because i know a lot of people can't tell the difference between a stock and a bond. so i'm going to -- i'm going to do a little fictional analysis here. imagine that the united states is a publicly traded company. and it's got this really counterintuitive stock that
CNBC
Jun 20, 2013 2:00pm EDT
because the fed says the economy is getting good enough that we can take it off of life support. and that's basically what qe was, was life support system for the economy. they say it's no longer needed, we're going to get it off. >> i spoke to you just back on april 9, sir, and you said you would not be surprised if we saw 18,000 for the dow. are you categorical saying no longer 18,000, going with 16 or 17? >> 18,000 was for the end of 2014, i believe. so i think, you know, when i'm saying 16 or 17,000 -- listen, we could get to 18. obviously, there is going to be a range, but my basic prediction was 16 or 17,000. in january of 2012, i said we're going over 15 and 16 or 17 was my target. i still think we're going to get there. >> buy, sell or hold? >> mandy, i would take a different position. i think in the short term, there is more correction ahead. this is a market which has been stimulated by the fed, by liquidity. it is not backed by fundamentals, it is backed by stable, sound, economic growth nor by corporate earnings, both of which are pointing downward. and now that the fed has in
FOX News
Jun 21, 2013 1:00pm PDT
-- the problem is the timing of all this. are you telling me the economy is so good now they can stop this program, this $86 billion a month in just a few months if the economy improves? payroll not getting better. trading fulltime jobs for parttime jobs, so seeing individual savings rates plummet. and at the same time our manufacturing base is not doing so. we this economy is maybe in first gear. now the federal reserve board, who hasn't accurately predicted anything about the economy over the last four years and has never predicted a recession, says, okay, we think now we're getting close to the point where we can pull the stimulus out of the market. nobody gets it. why now? we don't have enough traction here to do this. >> jerry, you talked to individual investor, portfolio people, not the manager. should they continue the course, keep the regular purchases or dollar cost averaging? >> they should absolutely. but a lot of the folks who watch our show don't like what they've seen in the market. they tone like the way we got to the rally. the think it's all about ben bernanke and the
CNBC
Jun 21, 2013 9:00am EDT
the food away, and buy one lobster and get one lobster, and it is bad. darden blames the economy for people not spending at lo of money to buy the breadsticks. i don't want to hear that. >> and meanwhile, we think that the economy is improving and yesterday the numbers in a different environment most likely would have been positives for the equity market, but we are not overwhelmed by the worries of the philly fed, and numbers that most people thought were better than they thought it would be. >> and i look at the bonds and how is the 10-year, strong. okay. buy me 50,000, whatever. we are in one of the moments and if we are not looking at the bonds, you know, having fun. >> and something else that people were looking at is the chinese shibor. we don't talk about it a lot. >> right, something that can jump up to bite you. >> and the rate has come down overnight, and they are trying to tighten up the money supply, and tighten it up, and the corporate inflows are not as strong as they might have originally been for china, but all part of the plan in a way of 300 million people, and 15 years to
CNBC
Jun 18, 2013 2:00pm EDT
from 85 to 65, i think people are going to come into the realization, as long as the economy kind of keeps ticking along that the fed can kind of taper off this accommodation and still have a healthy market. >> how strong do you think the economy is? >> well, i think we are growing in that 2% range and i think that, you know, we've seen some good numbers on the bottom line. the top line growth number that we really need a see better numbers in. i think as we move forward in the economy, we have areas where we think there's potential opportunities and we do get better as earnings come in in the later half of the year. >> some of your top holdings, cornerstone mid-cap 30 fund, why do you hold them? >> our hennessey focus 30 fund is a quantitative driven strategy. companies with strong earnings prospects, strong growth prospects, but have a reasonable price to sales, having increasing earnings on a year over year basis and also momentum built into them in the form higher stock prices so what we do is we -- >> i wasn't trying to cut you o.showing other stocks on the screen, mohawk and
CNBC
Jun 17, 2013 9:00am EDT
people have looked at the economy and said, wait a minute, we're not nearly to the point where the fed can take its foot off the gas. but if you look at their forecast for not only this year, but even moving forward, they are a little bit ahead of where consensus is and that's key to what they. >> 2.6. i want to see loan growth. you don't have new splurge in housing, obviously, because the people are kind of caught up by the rates. but, yes, the stocks that acted well last week, i used again mills and bristol meyers, imminent recession in 8 to 12 months. they bottomed. you don't want to see that. in other words, this is the fed step as way and people believe that there's nothing there. i'd like to think the fed stays in, until we get more than one month of good loan growth. >> to that point, you are talking about my multiple stocks there. they had something to be taken out of them given what were, what multiples -- >> 18, 20. >> higher than some of the peers in the biotechnology sphere which is hard to believe because they're going at a good rate faster. >> i don't want to get caught i
FOX Business
Jun 17, 2013 9:20am EDT
. now, wednesday ben reports on the state of the economy. good news for the market is expected. the dow will be up close to 100 points minutes from now. the president is northern ireland at the g8 summit. he's not saying anything about the irs or obamacare, his approval rating is sinking. how about this for a super hero blockbuster. the latest superman movie brings in 125 million dollars over weekend. "varney & company" is about to begin. >> if the world found out who i really was. he was convinced the world wasn't ready. ♪ [ cows moo ] [ sizzling ] more rai.. [ thunder rumbles ] ♪ [ male announc ] whenhe world moves... futures move first. learn f futes from experienced pros with dedated chats and daily live webinars. and trade with papermoney to te-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. a brand new start. your chance to rise and shine. with centurylinks your trusted technology partner, you can ust that. th our visionary cloud infrastructure, global broadband network a stom communications solutions, your business is more rele - secure - ag
MSNBC
Jun 17, 2013 4:00pm EDT
economies. joining us now is jared bernstein of the center on budget and policy priorities and a former top economist to advice joe biden. is this not a good moment for us to gave thanks that congressman paul ryan has not been in charge of the american economy because if he had been, it would resemble those at the g-8 who have suffered triple dip recessions as a result of applying austerity? >> i think it is a helpful analogy. if you think about the impact of the of kinds of policies, austerity, that paul ryan and many other republicans stand for right now, you can see their economic impact by looking over at europe. back in 2009, when there was a similar summit, a g-209 summit, the president went over there and explained we're applying fiscal stimulus pretty aggressively in our country and many of you should try to do the same. some of them took it up on it and their economies began to improve. then they pivoted to deficit reduction way too early and by the bit off this austerity idea to the point where you can just watch their unemployment rate reverse course and start to go up. now much
CNBC
Jun 21, 2013 3:00pm EDT
pulls the jumper cables off the drained battery that's been the economy, a healthy financial sector could be good, needed, and essential for a sustainable economic recovery. >> you mentioned oracle, nick. a lot of people were looking at oracle and saying this is evidence that global growth is slow. so what did you see in the oracle numbers? >> when we look at the numbers for all of the companies, things that are still tied into the emerging markets -- >> i see. >> -- the emerging economies are still struggling the most. when we collect all of the economic data, it's saying come home to the u.s. and so, some of the defensive sectors, the financials as well, we still like best some of the trends. not utilities, but telecom we like. when it comes to certain technology sectors and materials, energy, industrials, you know, these emerging economies, there's some scary things going on, particularly with the short-end rates in china. >> and the outflows prove it. >> yeah, rick santelli, how much higher on the 10-year yield, do you think in. >> i wish i could tell you. if this was a normal m
FOX Business
Jun 18, 2013 9:20am EDT
shifted our economy and our society. i want to bring in one of the leading thinkers on economic policy and i want to know if president obama has changed america for years to come. joining us to arthur brooks, the president of the american enterprrse institute. what do you say, arthur, has he changed it now and for good for a long time to come? >> well, yeah. hi, stuart. it's hard to argue that things haven't changed in the united states. the truth of the matter is we have been looking for a long time to scale up the size and scope of governments and obama has simply taken and escalated these particular trends. growth of government is something that's been going on for two decades and you've been in the united states for a long time and you've seen it and i know you've seen it to your dismay, but it's kind of a bipartisan deal at this point. you can't say it's democrats or republicans. the truth of the matter is the amount of government in dollars per capita has increased more under republican administrations than under democratic administrations over the past two decades. i would call
CNBC
Jun 17, 2013 4:00pm EDT
. the economy is mediocre at best, but even having said all that, that stocks have raced ahead of some of the weakness in the high yield bond market, to me i think still one of the best features of stocks when i talk to individual, and importantly, investors there are still a misuse of stocks when companies are generating an 8% return on equity, and if we get that 10% correction, just grind your way through it, fight your way through it and buy what you thought was too expense ive tod. >> that's an interesting point, because on the feds tapering, that's basically what people are trying to navigate around. rick santelli, give us your sense of what we hear out of bernanke tomorrow and wednesday? >> you can't get hd quality picture on a 1953 philco tv. that's the way i look at it. the markets are looking for answers to an exit strategy that can't be had. some people blame communications. i don't blame communications. i think these programs in their triggers for an exit and the relationships that the fed is trying to fine-tune with this rate of unemployment, this degree of growth in the ec
MSNBC
Jun 19, 2013 8:00am PDT
reform. it debunks the idea that immigration reform is anything other than a boon to our economy and robs the bill's opponents of one of their last remaining arguments. >>> all right, let's dig down on this and joining me now for more is mark murray. mark, it's good to have you here. we know from the lead figure on the immigration gang of eight has been senator marco rubio, however he's been saying recently the bill needs stronger border security measures. other republicans like senator john cornyn of texas want things like a 100% situational awareness, 90% apprehension on the border. as we look at what senator rubio's motives are now, is he undermining the hard work of the immigration eight by entertaining these amendments or is this just politics as usual? >> thomas, i think it's actually more trying from marco rubio's perspective to strengthen the bill to get more republican support. the gang of eight is still together. i mean, there are sometimes it's been reported there's been a little of annoyance about some of the requests that senator marco rubio has made to have more security but
MSNBC
Jun 20, 2013 6:00am PDT
're seeing is ben bernanke is taking the training wheels off the economy. or will eventually be taking the training wheels often by pulling out all the quantitative easing, all the bond buying the fed has been doing. several rounds of this quantitative easing. it's boosted house prices. it's kept mortgage rates down. everybody's nervous when the fed stops buying up all these bond, the economy might not perform all that well and stocks are going to look a little expensive. so that's why you're seeing stocks sell off. that's why you're seeing mortgage rates go up. the ten-year treasury note is rising. the highest it's been in a couple years. think of ben bernanke as a drug dealer, he's taking the drugs away from the economy. >> everybody coming down from that high, as it were. the president in a conversation with charlie rose hinted bernanke would not serve a third term as fed chair. i'll play you a sound bite from that conversation. and then get your thoughts. >> ben bernanke's done an outstanding job. ben bernanke's a little bit like bob mueller, the head of the fbi, where he already s
CNBC
Jun 18, 2013 9:00am EDT
. >> and if we can be freed from some of the regulatory burdens, this economy could take off, and so will the stock market. >> thank you, sir. join us tomorrow. "squawk on the street" begins right now. >>> good morning and welcome the "squawk on the street." i'm david faber with jim cramer and scott right here. carl quintanilla is off this morning, and afterf a 100-point rally, the fed is under the microscope as it begins, you know it, a two-day meeting. the futures are holding onto the gains and consumer prices up one point in may, and housing starts rose above street forecast, but we are looking for a higher open. >> yes. >> and a actually more defensive. looking at europe, a mixed picture, and you can see it on the continent there, but a lot of green on the map. start with our own road map starting with day one of the fed meeting as the market swings over almost any mention on the word of the word taper. president obama hints that ben bernanke could be on his way out. scott? >> and david, here is sony activist dan loeb asking for a second time to spin off the entertainment arm. th
FOX Business
Jun 16, 2013 9:00pm EDT
, three,our, five times. john: four years lat, fewer cross illegally because the mexica economy has doneetter. we build bigger, stronger fefences. john as the border patrol now we are here? >> oh, yes. john: an hour later they showed up. >> filming a segment. i intend donald -- ten donnelly. john: after that the left them alone. once more fences. >> is thisour ideal fans? >> this is good. it forces people who want to smuggle something to go to a high point where l-enforcement border patrol agents can easily see they have been interdicted. we ought to secure it. jo: a problem with the current fans. >> here is this biggeffective miti dance. impervious, scalable. then all the sudden it just hands. this right here is absurd. >> despite the billions we have spent, there are still lots of balls in the fence. especially the older part. >> this looks like a pretty good-sized already your. >> this is an arerea that whave volunteers who came downith a welding tra and wl that up thes holes. i mean, it is patchwork. >> i'm touching mexico. john: not that hard to get over the fence. drug dealers
CNBC
Jun 17, 2013 12:00pm EDT
is clear, rates are going to stay low for a very long time and when they do taper, that means the economy is getting better and they can handle it. i don't think we're there yet. i think we're at 2% gdp. >> senior economics reporter steve liesman is here with what the fed is likely to do. most importantly, what the fed is likely to say, steven. what it all is going to mean to your money and the markets, what are you expecting? >> i don't know if i agree with joe that we're going to get a kind of fresh bullish signal. i think inflation could be acknowledged as a problem. i just don't know that we're going to get more of a kind of, we're going to be continuing on the -- i think the fed is trying to figure out. i think bernanke is going to play it neutral. i did like my wife did she likes to make lists, i made lists on would it taper, would it not taper. let's look at the to taper idea. one idea would be to take some of the steam out of the stocks that the fed is concerned there may be too much leverage in equities. making the exit easier obviously the less it buys. the third one is probably
FOX Business
Jun 20, 2013 6:00pm EDT
this in your opening, that if the economy continues to improve, it means that the fed's impulse is no longer necessary to sustain the economy. >> it would just go on and on. it would continue to grow. the fed has learned from its past. no better than ben bernanke. so they have studied very closely the mistakes of the fed in the past. a world of difference between ben bernanke and that of allen greenspan. that is disclosure. he never would have told us what he was planning to do several months from now. people exiting bonds now, people exiting stocks at the same time, people choose one of those asset classes over the other. >> you have been talking about bond prices, which can fall. they are moving out of long-term bonds. they are good generally for the stock market. this is a wonderful buying opportunity. stocks are not overpriced. it is what is overdone. people should recognize that stocks remain. gerri: looking for some bargains out there. home care workers are now being seen as a huge untapped resource. they are aggressively trying to organize it. unions and many democratic lawmakers say
FOX News
Jun 15, 2013 8:30am PDT
economy in which big -- i mean jonathan is promoting oh, you've got to get big. well, that's wrong. you've got small. you've got big government, big business and big labor, and they're all in cahoots. and listen, verizon didn't do this on their own. the government leases that line. they provided the financing to verizon. the government and verizon are hand and glove. the government and ge are hand and glove. it's going to control 60% of the banking. everybody is too big. and that's what's wrong. we have essentially a fascist economy. >> go ahead, jonathan. >> verizon's done nothing. you're all dumping on verizon. they've done absolutely nothing. and wayne, you want a small phone company? great. put two tin cans together. a schmoll phone company will not be able to serve anyone. >> oh, please, give me a break. you don't know what the hell you're talking about. you're shooting your mouth off about something you do not know. >> hold on. hold on. tracy, jonathan says verizon has done nothing. as far as i understand -- >> this blows my mind. this is so not jonathan. what did you have in your
CNN
Jun 21, 2013 6:00am PDT
year and they're concerned what the fed is going to do when they stop supporting the economy probably some time into next year. you'll see this gut check where people are taking money off the table. >> christine romans reporting live from new york city, thank you. >>> six women, six women, just women would decide the fate of george zimmerman and remember race could be a key factor to this case. five of thez women jurors are white. one is described as hispanic or black. opening statements now set for monday. also, today the judge will rule on a controversial voice analysis of the screams heard on this 911 call. >> does he loohurt to you? >> i can't see him. i don't want to go out there. i don't know what's going on. >> do you think he's yelling help? >> yes. >> all right. what is your -- >> all right, you heard the screams in the background. the prosecution wants to show it was trayvon martin's voice. if so, that could hurt zimmerman's self-defense claim in shooting zimmerma eme eme em was unarm aed. >>> also new information this morning in the sudden death of james gandolfini. hotel s
CNBC
Jun 21, 2013 2:00pm EDT
certainly hope that the market takes good news in the economy as good news as opposed to freaking out that the party might be over from monetary stimulus. what about you, saine brown? what's the most important thing on brian's list or elsewhere that you are watching right now? >> well, i think there's one asset class that's not going to be impacted by turkey, by china, by brazil and maybe not even that much influenced by whatever the fed tries to do to either increase or decrease quantitative easing, and that is high-yield bond. they have plummeted in price, people have panicked. they have sold a lot of their assets. >> do you find that's a surprising reaction though? >> yes, absolutely, because usually when you see interest rates increase and prices fall on treasuries, you don't get quite as much fall in price on high-yield securities. they are more credit sensitive, and steve just mentioned, hey, we think that the economy is going to continue to go along quite well. you're not going to have bankruptcies in high yield and even slow growth will alol two companies to continue to chug a
CNBC
Jun 18, 2013 5:00pm EDT
a holistic perspective. i don't think it's the main thing. they look at the key parameters for the economy. it's the unemployment rate, the growth rate and the inflation rate. those are the main things that is going to dictate the timing. >> if you believe tapering is going to begin in september, i would imagine the fed would have to warn the markets or elude to the fact tomorrow. what's going to be the market reaction? >> i think we have had most of the reaction? >> you think no reaction whatsoever as the fed mark the before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth... one whose insights, solutions, and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. be
CNN
Jun 17, 2013 3:00am PDT
talking about policy. we're not saying we don't like the economy. we're not saying it's this one program. we don't trust you. >> reporter: and that becomes a huge problem for a progressive presi"ent who needs to tell people, let me use the government to make you) life better. if you don't trust him, his disapproval rating is up and you think government is too big -- 6 in 10 americans now think government is too big, that he can't manage it effectively. this is like a political version of an underwater mortgage, if you will. his disapproval is above 50. people don't trust the government. you look at this coming out, is he trustworthy? 49% say yes. that's up 58% since just last month. so he's taking a hit. something has americans stoppint and saying, hey, wait a minute. when you're early second term with the midterms just around the corner, don't invest in one poll, but if you're president and you know the clock is ticking, that's trouble. >> it's one thing about the nsa or about a policy, but if it's whether or not he's believable, it makes it difficult to come back, even it's just one po
FOX Business
Jun 19, 2013 6:00pm EDT
at you and your money is the fed makes its prediction for the u.s. economy. where should you be investing in what should be your priority when it comes to saving for retirement. should your kids education topped the list. exclusive tips after the break. at a dry cleaner, with a machi. we replacee what? customers didn't like it. so why do banks do it? hello? hello?! if your ba doesn't let you talk ta al pern 24/7, you need an ally. hello? ally bank. your mey needs an ally. i work for7 dierent companies. well, technically i work for one. that company, e united states postal service® works for thounds of home businesses. because at usps.m® you can pay, print and have your packages picked up for free. i can even drop off free boxes. i wear a lot of hats. well, chnically i wear one. the u.s. postal service®, no business too sml. vo: ta friend under water is end something completely different.t well, chnically i wear one. i met a turtle friend today so, you don't get that very often. it seemed like it was more than happy to have us in his home. so beautiful. avo: more travel. more options
MSNBC
Jun 15, 2013 7:00am PDT
into the mirror to look at history. let's quickly revisit the highlights. this president brought the economy back from the brink through a stimulus program, a bailout of the american auto industry, strengthening financial reform and creating a dedicated government bureau to protect consumers. changing the composition of the supreme court by appointing two impressive women. and of course the largest progressive domestic policy to expand our social safety net in a generation, the affordable care act. for obama supporters accustom to all those policy successes, so far the second term may seem like it's off to a slow start but i think that changed this week. the president just took a crucial step towards the first big win of the second term on tuesday. advocates for immigration reform broke an attempted filfilibuste. now nothing should stop the senate for an up-or-down vote for landmarking legislation that would provide the u.s.'s first comprehensive immigration reform in almost three decades. if that happens, president obama will become the first president to make a lasting mark on immigration polic
FOX Business
Jun 18, 2013 1:00pm EDT
in history and perhaps the chairman that saved the economy from the second grade depression. like him? >> i think that there are other candidates out there that are very give to obama. one of the least popular candidate's co-op one which could be a very effective chairman to engineer a monetary turn would actually be larry summers. he has the intellectual credentials. he has the experience. he would be a good choice. i think a close runner-up would be someone that obama will look very favorable oo. lori: lots to keep our eye on tomorrow. you set us up beautifully. ashley: fed watch hitting the commodity markets today. phil flynn is in the pits of the cma. some may even argue that the physical demand is drying up a little bit because they are waiting to see what the fed says. it is not just the pressures battles. take a look at platinum. that, of course, is a major driver for demand of platinum. of course, copper is down big as well. there is also talk about the end of a line straight. bring on the fed. ashley: the play on gold -- >> i agreed with that. i think that the trade is very very ne
CNBC
Jun 17, 2013 5:00pm EDT
more clearly what the actual economic variables or progress on the economy is by looking forward. the whole problem here has been that they have not been clear about that. i think that's why markets are gyrating in response to everything that is said about it. >> so, robin, in your article when you say that the definition of substantial improvement has grown less optimistic overtime does that mean it will take a lower bar for the fed to begin tapering? >> this is one of the things that i think is useful and people should pay attention to. i think the grounds have shifted a bit on labor force participation. i think that people are growing less optimistic about how fast that may come back and therefore they may be looking for slightly less, you know, big figures on payrolls before they will judge if that's a substantial improvement. >> robin, i want to go back to the release of this article because it did happen at a time when the markets were pretty much at session highs and you alluded to the fact that you understood why the markets reacted in the manner in which they did. was th
MSNBC
Jun 18, 2013 11:00am PDT
told "the new york times," quote, i think it's a stupid idea to bring this up. the economy is on everybody's minds. we're seeing stagnant job numbers, confidence in the institution and government is eroding. joining me, samantha gordon. thank you for joining us. samantha, you heard kelly o'donnell say that you have republicans, conservatives who believe, yes, this may not go anywhere, meaning turning into law. but their message is being discussed and it is on the forefront and we are leading this show and many others have talked about it all day. >> you know, absolutely, tamron. back in 2012 the republicans know they have an anti-choice, anti-woman agenda and that's what we're seeing today. you know, they say they want to appeal to women but that's not what they're doing. they're saying they want to push a social agenda despite the way women and most americans feel. seven out of ten americans support roe versus wade. we've seen that this year. however, this eey refuse to wor jobs and the economy and push their personal agenda on the american people. >> craig melvin asked if
MSNBC
Jun 18, 2013 12:00pm PDT
in the economy. jetblue and southwest airlines are the top ranked by passengers in the latest performance survey. still, the airline industry as a whole ranks near the bottom of the service sector beating only fees for television and internet companies. needless to say this guy doesn't work for either of these airlines. more than a million people have viewed this of a guy chucking packages onto a conveyor belt. as you can see, he doesn't have very good aim. and now crime time. >> hey. >> the 38-year search for jimmy hoffa's body is one of america's great mysteries and this field in a michigan suburb might finally solve it. or maybe not. acting on a reliable tip from the son of a detroit mob boss and self proclaimed friend of hoffa, authorities are once again digging for the infamous remains. so far no body has been uncovered but there's evidence of cement. that would be significant because the source says hoffa was buried alive and covered over with cement. and best friend turned snitch. the friend of whitey bulger and former hitman john known as the executioner testified in the high-profile tri
MSNBC
Jun 18, 2013 1:00pm PDT
the economy, immigration reform, national security, forget it. it the house of representatives wants to go back 40g years. -- 40 years. ♪ i've got the power >> one of the things you learn as president, you do have differing perspectives on problems. >> it is very easy to slip slide deeper and deeper. >> these programs have protected the u.s. and our allies from terrorist threats. >> the nsa cannot listen to your telephone calls. >> over 50 times of since 9/11. >> i don't pay a lot of attention to what barack obama says. >> i don't think we ought to be playing games. >> women have said you need to do something about these late term abortions. >> we have got to get serious. >> we're going to take that action today. >> what have you done for me lately? that's my job. i accept that. >> it is a busy tuesday. we're following developments on multiple fronts this afternoon. the president has just touched down in germany after concluding some critical meetings at the jaxt sux mit in northern ireland. he arrives in berlin with a full slate of issues to confront on the world stage. as a
MSNBC
Jun 21, 2013 11:00am PDT
falls below 6.5%. he has no fixed plan to stop purchasing the securities helping to lift the economy. even when they stop, they won't turn around and sell them, which would be bad for investors. we've had several billionaire money managers writing in to voice their continued confidence in the stock market saying this will all pass too. afterall, the economy is heading in the right direction. tr tamron, if you want to invest in the stock market right now, you're going to have to have a steel stomach. >> thank you, kayla. the news nation is also following breaking news out of the white house where president obama is about to nominate james comey to be the next head of the fbi. he's a former justice department official who helped oversee the legality of the national surveillance program under president george w. bush. if confirmed by the senate, he would replace robert mueller, who's head of the agency since september 2001. although fbi directors are limited to a single ten-year term, mueller's term was extended by the senate at the president's request. comey's nomination comes as the f
CNBC
Jun 17, 2013 1:00pm EDT
, so when does that mess over there start forcing gasoline prices higher and maybe the economy, not just here, but globally lower? sue is at the new york stock exchange. hi, sue. >> hi, ty. food to see you. when a monday on wall street to start out week. the dow has been on the move, smartly higher. right now a triple-digit advance on the dow right now of 166 points. the s&p and nasdaq also in green territory with the s&p up just better than 1%, and the nasdaq is up 1.25%, so actually the nasdaq is faring the west of the three indices 3-m, delphi a hitting all-time highs and boeing, staples, amat hitting 52-week highs. the dow having a triple-digit move, but this is the fifth straight move th session where we've seen that kind of move. a look at the vix and we'll talk about that in just a second. the last week it was up 8%, and that brings us to bob pisani who also tracks the volatility. >> we do, and while it's been up since may 22nd when mr. bernanke gave his congressional testimony, the important thing is steady as she goes. the last few days, real found a floor. look at the
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